• Thu. Jun 20th, 2024

Shell Australia Eyes Growing Markets in Southeast Asia with Strong LNG Supplies

BySamantha Jones

May 22, 2024
Shell predicts that developing Asian markets will consume a larger share of the global expanding LNG supply

Shell Australia’s Country Chair, Cecile Wake, emphasized the importance of Australian LNG supplies in meeting the growing demand from emerging markets in south and southeast Asia during the Australian Energy Producers Conference. With global supplies of LNG expected to increase towards the end of the decade, Shell sees an opportunity to supply these markets in Asia.

Asian spot LNG prices have recently reached their highest levels since January due to a surge in demand caused by hot weather in the region. Wake identified countries like the Philippines, Thailand, Vietnam, and Bangladesh as key growth markets for LNG demand in the coming years.

Shell’s commitment to the Australian market is driven by its competitive positioning in Asian markets. Wake highlighted the importance of maintaining high supply levels and reliability in LNG assets to meet the demand from these growing markets.

Shell’s flagship floating LNG facility, Prelude, recently came out of a statutory shutdown in Australia with improved reliability. Having faced some challenges since its production began in 2019, the facility is now expected to operate smoothly with higher volumes anticipated this year.

With no major shutdowns planned for this year or next, Shell is confident in its ability to meet the demand in Asia with its Australian LNG supplies. The next statutory shutdown for Prelude is not scheduled until 2026, giving Shell a long runway to serve the growing markets in Asia.

By Samantha Jones

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